Sweden's CTEK Q2 net sales fall 8% organically on changed ordering patterns
Sweden's CTEK Q2 net sales fall 8% organically on changed ordering patterns
Overview
Sweden battery charging firm's Q2 net sales fell 8% organically yr/yr
Gross and EBITA margins improved compared to last year
Company maintained positive operating cash flow, driven by working capital management
Outlook
Company says strong cash flow and low leverage allow continued investment in growth and acquisitions
Result Drivers
ORDERING PATTERN CHANGE - Co said lower net sales were mainly due to a changed ordering pattern within Client Brand
CONSUMER DIVISION GROWTH - Co said Consumer division continued to grow during the quarter
WORKING CAPITAL MANAGEMENT - Positive operating cash flow was mainly driven by continuous work with working capital
Company press release: ID:nWkr5xYYnN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 179 mln |
|
Q2 Operating Cash Flow |
| SEK 25 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for CTEK AB (publ) is SEK23.00, about 72.7% above its July 16 closing price of SEK13.32
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)